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Senator Michael F. Bennet introduces S. 5630: Stop Orphaned Wells Act

Investivoq LegislationRadar

We have received text from S. 5630: Stop Orphaned Wells Act. This bill was received on 2026-09-30, and currently has 4 cosponsors.

Here is a short summary of the bill:

This bill would change federal rules for oil and gas leases, mainly to make sure companies are financially responsible for cleaning up wells and other equipment when operations end.

Key changes

  • Higher bonding and reclamation requirements: Companies holding federal oil and gas leases would have to provide stronger financial guarantees to cover cleanup and restoration costs.
  • Tighter transfer rules: The government would make it harder to transfer leases or operating rights unless the new holder meets required standards.
  • Longer operator liability: An operator could remain responsible for cleanup obligations even after a lease or asset is transferred, helping ensure the government can still recover costs if cleanup is needed later.
  • Rules for idle or shut-in wells: Wells that are not producing, or are temporarily shut down, would face additional oversight and regulation so they are not left abandoned without a clear cleanup plan.
  • “Fitness to operate” standards: Operators would need to meet certain financial and compliance standards to show they are capable of safely operating federal leases and paying for eventual decommissioning and cleanup.

Enforcement and oversight

  • The Department of the Interior would have to create regulations for the certification process within 1 year.
  • Interior would report to Congress every year on lease holders that are not in compliance and on enforcement actions taken.
  • The department could order decommissioning and require a plan for how cleanup will be done.
  • If multiple parties are involved, the government could pursue joint liability proceedings so more than one responsible party may be held accountable for cleanup costs.

Funding

The bill authorizes $30 million per year for fiscal years 2028 through 2032 to carry out these requirements.

Overall effect

In practical terms, the bill is designed to reduce the chance that taxpayers end up paying for unplugging wells, removing equipment, and restoring federal oil and gas sites. It shifts more of the financial and legal responsibility onto the companies that own or operate the leases, including companies that take over leases from others.

Relevant Companies

  • None found

Senator Michael F. Bennet Bill Proposals

Here are some bills which have recently been proposed by Senator Michael F. Bennet:

  • S.5630: Stop Orphaned Wells Act
  • S.5621: Safe Spaces for All Act
  • S.5535: Eviction Crisis Act of 2026
  • S.5533: Segal AmeriCorps Education Award Tax Relief Act of 2026
  • S.5444: New Essential Education Discoveries Act of 2026
  • S.5290: Emergency Mountain Pine Beetle Response and Coordination Act

You can track bills proposed by Senator Michael F. Bennet on Investivoq's politician page for Bennet.

Senator Michael F. Bennet Net Worth

Investivoq estimates that Senator Michael F. Bennet is worth $18.5M, as of October 8th, 2026. This is the 70th highest net worth in Congress, per our live estimates.

Bennet has approximately $4.0M invested in publicly traded assets which Investivoq is able to track live.

You can track Senator Michael F. Bennet's net worth on Investivoq's politician page for Bennet.

Senator Michael F. Bennet Stock Trading

We have data on up to $4.2M of trades from Senator Michael F. Bennet, which we parsed from STOCK Act filings. Some of the largest trades include:

  • A December 8th, 2017 sale of up to $1M of $RGC. The stock has risen 1088.57% since then.

You can track Senator Michael F. Bennet's stock trading on Investivoq's politician page for Bennet.

2028 Colorado US Senate Election

There has been approximately $13,111,195 of spending in Colorado US Senate elections over the last two years, per our estimates.

Approximately $1,005,698 of this has been from outside spending by PACs and Super PACs. Some of the groups who are spending money in this race include:

  • OUR FUTURE COLORADO ($390,500)
  • COMMON SENSE ACTION FUND ($300,000)
  • WORKING FAMILIES PARTY PAC ($223,232)
  • INDIVISIBLE ACTION ($42,537)
  • YOUNG PEOPLE FOR A NEW ERA ($33,456)

The rating for this race is currently "Solid D".

You can track this election on our matchup page for the 2028 Colorado US Senate election.

This article is not financial advice. See Investivoq's disclaimers for more information.